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April 02, 2015 12:58 AM ET

Electric Utilities

Company Overview of Salt River Project Agricultural Improvement And Power District

Company Overview

Salt River Project Agricultural Improvement and Power District engages in the ownership and operation of an electric system that generates, purchases, transmits, and distributes electric power and energy in the United States. It also operates the Salt River Project, a federal reclamation project, under contracts with the Salt River Valley Water Users’ Association. The company provides electric services to residential, commercial, industrial, and agricultural power users in a 2,900-square-mile service territory spanning portions of Maricopa, Gila, and Pinal counties, as well as mining loads in an adjacent 2,400-square-mile area in Gila and Pinal counties. It provides electricity to approximat...

1521 North Project Drive

Tempe, AZ 85281-1298

United States

Founded in 1937

5,132 Employees

Phone:

602-236-5900

Fax:

602-236-8640

Key Executives for Salt River Project Agricultural Improvement And Power District

Chief Executive Officer and General Manager
Age: 61
President
Chief Financial Executive and Associate General Manager
Chief Legal Executive and Associate General Manager
Chief Communications Executive and Associate General Manager
Compensation as of Fiscal Year 2014.

Salt River Project Agricultural Improvement And Power District Key Developments

Salt River May Acquire Additional Stake In Navajo Generating

Salt River Project Agricultural Improvement And Power District (SRP) may acquire an additional stake in Navajo Generating Station. NV Energy, Inc. said that it is considering selling its share of the Navajo Generating Station during the week ending April 5, 2013. Los Angeles Department of Water and Power Power System (LADWP) is also looking to get out of the plant by 2015 by selling its stake to SRP. NV Energy holds 11.3% stake and plan to move out of the Navajo plant by 2019. SRP already plans to double its 21.7% stake by purchasing LADWP's share and negotiations are ongoing. SRP officials said they are not in negotiations with NV Energy to purchase its share. If SRP must acquire NV Energy's stake in the plant, it would have to pay another $67.8million. "The potential exit of NV Energy from (the plant) further complicates an already complex process underway to extend the life of this important Arizona resource," SRP spokesman Scott Harelson said. When one of the plant owners decides to exit the plant, it is required to offer its share to the other participants. Except for the Bureau of Reclamation, the other owners have the right of first refusal to purchase it. "All of the owners have been evaluating their options going forward as we structure the lease, fuel contract and (response to the EPA proposal)," he said. "While we had not heard from any of the owners that they intended to get out of the Navajo Generating Station (other than LADWP), we are very aware that until all of the agreements are complete, none of the owners are bound to go forward past 2019."NV Energy doesn't need approval from the Nevada Legislature to sell its share of Navajo or to abandon coal in general. It could request approval from the Nevada Public Utilities Commission. So even if the legislation fails, it could still try to get out of the plant and its costly environmental upgrades. NV Energy officials declined to comment on whether the company would try to exit Navajo Generating Station in 2019 even if the state Legislature doesn't approve the bill, which outlines how the company could charge customers for the transition.

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